The Shiba Inu (CRYPTO:SHIB) burn rate has seen an extraordinary spike of 1,166% within a single day, driven by increased participation from investors eager to burn SHIB tokens.
Shibburn, the official tracker for SHIB burns, recorded a total of 35.29 million tokens burned, a stark contrast from previous daily figures.
This surge also reflects a notable increase in the number of burn transactions, with 12 recorded in the last 24 hours, compared to an average of six earlier in the week.
Transactions ranged widely in size, from a wallet burning over 10 million tokens to several others burning between 2 million and 5.5 million tokens each.
This surge follows a trend that began on June 18, when the burn rate spiked by 5,569%, signaling a resurgence in interest among investors in burning SHIB tokens despite declines in daily trading volume and price performance.